Dec 12, 2012 1:40am PST
hsbc. the government says the british bank did business with drug lords and terrorists yet faces no criminal charges. brian ross reports. >> reporter: when the most ruthless of the mexican drug cartels wanted to hide their money, they went to hsbc. so did hamas and al qaeda, along with iran and other countries and the u.s. financial blacklist. all customers of a bank known well around the word. but given much less prominence in the announcement was a deferred prosecution agreement with hsbc, meaning there will be no prosecution of the bank or its top executives. despite more than a decade of dealing with criminals and terrorists. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> reporter: but with $38 billion in profits over just the last two years alone, hsbc can easily afford its $1.92 billion payment. >> this is a signal to other banks that if you do this kind of stuff, you'll get a parking ticket, you'll pay the fine and move on. >> reporter: since this summer, whe
Dec 13, 2012 4:00am PST
unidentified. other big banks including ubs, jp morgan, citigroup and hsbc are still being investigated for possible connections to the libor scandal. general motors, struggling with an overstock of their full- sized trucks, is hoping to unload some inventory. the car company is trying to boost sales with an enhanced package of incentives for poetential buyers - a good thing for consumers, not necessarily for gm. the car giant had earlier vowed to hold off on such promotions in order to shield profits through the end of the year. the government is poised to make a $22 billion profit on its bailout of aig. the treasury department said this week it will sell its remaining shares of the insurance company. that consists of 234 million shares, or 15.9% of the company. it marks an end to the bailout the government gave to aig at the start of the financial crisis. thousands of supporters and opponents are expected at a public hearing on fracking today in albany, new york - and there could be friction. conservationists say hydraulic fracturing for gas is harmful to the environment, while suppor
Dec 12, 2012 11:00am PST
. >> europe's biggest bank, you heard about this, hsbc agreed to pony up close to $2 billion to settle accusations of money laundering. the senate banking committee they found that hsbc in mexico shipped $7 billion in cash, mind you, across the border, maybe turned a blind eye to where the money came from, want you to listen to neil barofsky, we had him on the show yesterday, and i asked him whether top bank officials knew they were handling drug money there. >> the notion that this wasn't something that was known on senior levels of the banks, at least they had plenty of reason to suspect that this was ongoing and, look, i think somebody described it as the biggest slap on the wrist in the history of banking fines. >> stuart gulliver receiving the big wrist slap in terms of bank fines. told me 2 billion bucks, that was chump change and it shows that crime pays. what do you think? >> i think any big bank, anybody in charge of the bank, bears responsibility for the conduct of the bank. hsbc is a famously tightly run bank. obviously the people at the top had to know something was amiss.
Dec 11, 2012 4:00am PST
the premarket >>hsbc will pay $1.9 billion to settle a u.s. money-laundering probe. the investigation into hsbc has focused on the transfer of billions of dollars on behalf of nations such as iran and the transfer of money from mexican drug cartels. the british bank said in statement tuesday that the settlement involves a deferred prosecution agreement with the u.s. department of justice. the bank won't be prosecuted if it meets certain conditions, such as strengthening internal controls to prevent money laundering. >> we will get you started with weather and traffic and everything went you need to head out the door. let us take a look at our roof cam. we are looking at a pretty the day today. will get cold. we have changes on the way to tell you about. we will be right back. 5:14 is the type. >> california experience the highest tides of the year this week. thursday morning is when it will peak. this condition is called the king tied to where the gravitational tug of the moon and sun not climate change is responsible for the extreme tides. >> king tied occur several times a year, but this week
Dec 11, 2012 7:00am PST
the end of 2013. hsbc will pay $1.9 billion to settle u.s. money-laundering probe. the investigation as to hsbc has focused on the transfer billions of dollars on behalf of nations such as the rhine and the transfer money from mexican drug cartels. the british bank said in a statement tuesday that the settlement involves a deferred prosecution agreement and with the u.s. department of justice. and just crossing wires the justice burton says hsbc intentionally allow prohibited transactions with i ride, libya, sudan and burma. >> what as roll out its own library of retro filters for its android and iphone apps. this comes as a social me as i said it lost the ability to display images from the facebook owns a gram. twitter of birds at the ability to include images and tweets a year-and-a-half ago. if you have arabizing abated twitter app is available now on the google place store. it is coming sounds apples app store. facebook uses are apparently too busy about a proposed policy changes on the web site. 300 million boys than needed to override those changes for results to be binding. ho
Dec 11, 2012 1:40am PST
will be finalized involving hsbc. the bank is settling a case brought by u.s. government and also authorities here in new york hsbc will pay $1.9 billion to settle accusations it illegally transferred money on behalf of sanctioned nations, including iran and help mexican drug cartels launder monday. >>> a florida woman has been found guilty of first degree murder for shooting a lottery winner in a plot to get his money. a jury in tampa convicted her of the 2009 murder of abraham shakespeare who had won $17 million. he was found buried in concrete in the backyard of her boyfriend. the judge called her cold, calculating, and cruel. >>> we now know the identity of the second lucky winner of that record powerball jackpot. matthew goode had tried to remain anonymous in claiming his share of the $587 million prize. yeah, that didn't happen. it was only a matter of time before his name was discovered. he is originally from pennsylvania, but moved to phoenix area last year. he took a one-time payout of $192 million, telling officials he was worried about paying higher taxes next year because of the fiscal
Dec 11, 2012 7:00am PST
. in the united states federal investigators claim hsbc transferred billions of dollars for countries like iran and did business with mexican drug cartels. company officials say they accept responsibility for past mistakes. >>> "the new york times" says top officials in afghan government was shot on her way to work. her predecessor also murdered less than six months ago. >>> the "wall street journal" reports delta airlines is close to a deal to buy 49% of virgin atlantic airways, that would give delta a wider network of flights and more space at heath row, london's main airport. delta would pay singapore airlines 300 million to $500 million for the stake. >>> google avoided paying about $2 billion worldwide income taxes last year. the company moved nearly $10 billion in overseas profits to bermuda, where there is no,, >>> good morning. heading out, grab the jacket. it's chilly in spots. overlooking san jose now not a bad start to the day at all. we have mostly clear skies, some patchy, dense fog in the valleys and fog at the coast.temperatures in the 30s and 40s now, this afternoon 50s and 60s.